Aegon Jeevan Riddhi Plan

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Aegon Jeevan Riddhi Plan is a non-linked participating savings plan which appreciates your savings to provide you with a significant savings corpus. It provides increments in the form of guaranteed additions and bonuses every year. Under its life cover benefit, in addition to the maturity and death benefit, the plan features an inbuilt accidental death benefit equivalent to 50% of the sum.

You can further enhance the coverage under the plan with the help of an additional rider option namely Premium Shield Rider where all the future premiums get waived in case of death or disability due to accident or sickness. Moreover, Aegon Jeevan Riddhi Plan ensures financial liquidity by the way of policy loans which can be availed up to 60% of the surrender value of the plan. 

Best Features of Aegon Jeevan Riddhi Plan

Following are the features which helps Aegon Jeevan Riddhi Plan stand out among its counterparts - 

  • Guaranteed Additions-  Guaranteed Additions equivalent to 5% of the sum assured are added to your savings at the end of every policy year during the entire premium payment term (for 5 years in case of Single premium policies).
  • Inbuilt Accidental Death Benefit- In case of demise occurred due to an accident, an additional benefit equivalent to 50% of the sum assured is payable to the nominee. 
  • Annual Bonus- The company declares a simple reversionary bonus as a percentage of sum assured at the end of every financial year which gets added to your savings at every policy anniversary. The insurer may also provide a terminal bonus on death of the life assured and for maturing in-force policies.
  •  Rider Option-  An optional rider namely Premium Shield Rider is available with the plan which waives off all future premiums in case of death or disability of the life assured due an accident or sickness
  • Policy Loan- Once the policy has acquired a surrender value, a loan of up to 60% of the surrender value can be availed. The loan is currently available at an interest rate of 9.74% per annum.

Benefits of Aegon Jeevan Riddhi Plan

Aegon Jeevan Riddhi Plan offers the following benefits to its policyholders - 

 1. Death Benefit

In case of an unfortunate demise of the life assured during the policy term, the nominee is entitled to the following:

  • Sum assured on death plus
  • Accrued guaranteed additions plus
  • Accrued reversionary bonus plus
  • Terminal bonus

The total death benefit payable is subject to a minimum of 105% of the total premiums paid till the date of death. 

The sum assured on death is calculated as: 

  • For Limited Pay Policies: Higher of 10 times the Annualised Premium or Sum Assured.
  • For Single Pay Policies: Higher of 125% of the Single Premium or Sum Assured.

2. Maturity Benefit

In case of survival of the life assured till the end of the policy term, an aggregate of the following shall be paid as the maturity benefit - 

  • Sum assured plus
  • Accrued guaranteed additions plus
  • Accrued reversionary bonus plus
  • Terminal bonus

3. Surrender Benefit

In case you decide to surrender the policy in between the policy term (but after the payment of the first 2 years’ premiums in case of limited premium term), a surrender benefit equivalent to the higher of Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV) shall be payable.

Guaranteed Surrender Value = GSV of Sum Assured + GSV of Guaranteed Additions + GSV of Bonus

SSV may be declared by the insurer upon IRADI’s approval.

Aegon Jeevan Riddhi Plan Eligibility 

To become a policyholder of Aegon Jeevan Riddhi Plan, the following eligibility criteria is applicable - 

Eligibility Criteria For Aegon Jeevan Riddhi Plan
Minimum Age at Entry18 years
Maximum Age at Entry

For Limited Pay Option- 55 years

For Single Pay Option- 60 years

Maximum Age at Maturity70 years
Premium Paying Term (PPT)Single Pay / (Policy Term - 5) years
Premium Payment FrequencySingle, Yearly, Half-yearly, and Monthly
Minimum Premium Amount 

For Single Pay- INR 1 Lakh

For Limited Pay- PPT = (Policy Term - 5) years

Policy Term

Minimum Premium

10 to 11 years

INR 60,000/- p.a

12 to 16 years

INR 17,000/- p.a

17 to 20 years

INR 15,000/- p.a

Maximum PremiumNo limit, subject to underwriting
Sum Assuredsum assured depends on the life assured’s age, chosen premium payment term, and the annualised premium amount. 
Policy Term 

For Single Pay Option- 10 years

 For Limited Pay Option-  10 to 20 years

Aegon Jeevan Riddhi Plan Review

Aegon Jeevan Riddhi Plan is a savings plan which keeps your family secured financially during uncertain times like your demise or disability whilst maximising your hard-earned savings by way of guaranteed additions and bonuses. One of the most notable features of the plan is its inbuilt accidental death benefit which provides a benefit equivalent to 50% of the sum assured. 

The plan provides you additional benefits like the facility to avail loans up to 60% of the surrender value and choice of 1 optional rider namely Premium Shield Rider which waives off all future premiums in case of disability of the life assured. Aegon Jeevan Riddhi Plan can be shortlisted by individuals who are looking for a comprehensive savings cum life insurance plan.

Aegon Jeevan Riddhi Plan FAQs

  • 1. Does the policy provide a free-look period?

    Yes, the policy offers a free-look period of 15 days (30 days if policy is purchased online) from the date of its receipt in case you are dissatisfied with its terms and conditions. The premium in such cases is refunded after deduction of stamp duty charges and medical expenses. 

  • 2. What is the minimum and maximum amount allowed for availing policy loan facility?

    The minimum amount necessary to avail the facility of policy loan is INR 5,000 and the maximum amount is 60% of the surrender value.

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